Harbert Management, the Birmingham, Alabama-based alternative investment manager, boosted its executive team with four employee promotions announced Friday.
Travis Pritchett, previously a managing director, was promoted to senior managing director of global real estate strategies, a newly created position. He joined the firm in 2005 and most recently helped launch HMC’s latest investment strategy, senior housing, in the fall. Pritchett’s previous role, overseeing all of the US’ central region investment activity, was filled by Adam Krug, who joined the firm’s Dallas office in August. Now, all investment teams globally will report to Pritchett rather than to Raymond Harbert, the firm’s chief executive officer.
“To ensure that the firm, as it grows, remains a best-in-class investment manager, it was apparent to me that I did not have the bandwidth to continue overseeing all of our different strategies,” Raymond Harbert told PERE. “Grouping all of our real estate strategies under Travis creates a number of synergies that will be beneficial to our partners.”
Pritchett moved to this new position January 1 as the firm continues a busy season of fundraising. Harbert has three funds currently in the market, with strategies ranging from senior housing to European and US value-add real estate. Last year, Harbert brought in two executives from Fortress Investment Group, Trent Johnson and Brian Landrum, to lead its senior housing effort.
In its latest round of staff changes, HMC also added three staff to its vice president roster. Jerry Phillips was promoted to director of taxation and Raymond Harbert Jr. rose to vice president of finance and administration. After 25 years with the firm, Sonja Keeton moved up to chief financial officer from chief administrative officer.
Harbert, founded by Raymond Harbert in 1993, managed about $4 billion of assets, including $1.7 billion of real estate, as of November 30. The firm also invests in private equity, debt and power.